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Wednesday, October 05, 2005

Know your Medicare drug benefits

For people on Medicare, or those of us assisting someone on Medicare, getting educated on the new Medicare prescription drug benefit is essential. Unfortunately, this is a complex subject. I've been reading some of the literature, and it really is complicated. Some of the easiest to understand information can be found in Medicare's advertising material.

Hopefully, a proposed one-year delay in starting the program will be thwarted. (AARP Blog: One Year Delay for Prescription Drug Benefit in Medicare?) Or, maybe it already has. Been thwarted, that is.

So far, this is what I think I know. So far. I think.

  • Anyone who is on Medicare is eligible for the new Medicare prescription drug benefit.
  • Medicare is going to start sending out official information sometime in October.
  • To qualify for the year 2006, the sign-up period starts November 15, and ends December 31, 2005.

Things start to get fuzzy when deciding which plan to sign up for. There are many factors to consider. To help out, Consumers Union has "A dozen key questions you should ask before picking a Medicare drug plan."

My head is spinning.

Posted by Marie at October 5, 2005 10:22 PM